Beaxy cryptocurrency exchange has launched one month after cybercriminals attempted to hack the platform. Based in Chicago, the exchange has been in development for close to two years now, and it will now be available across 43 states in the U.S. and in over 180 countries globally.
According to a report by Chicago startup news site Built In Chicago, the exchange partnered with OneMarketData to power its platform. OneMarketData is a data management company whose platform is used by global giants such as Bloomberg and NASDAQ. The partnership allows Beaxy to offer a platform that allows nine trading order types.
The partnership will enable the exchange to offer the same convenience and speed that the traditional markets offers their users, Beaxy’s CEO Artak Hamazaspyan said.He added:
“Our implementation of OneMarketData’s OneTick technology has yielded impressive results, out-performing most engines in traditional financial markets and the cryptocurrency markets. We’re looking forward to providing every trader out there with a one-stop shop solution that will significantly erase the barriers to alternative asset adoption.”
Beaxy’s ultimate goal is to be the one-stop shop for all crypto traders, novices and professionals alike. It has therefore been working on various tools that one can customize to his level of expertise, Artak added.
Beaxy has also partnered with Kingdom Trust to enforce its security. With Kingdom’s experience in the crypto industry, Beaxy’s security is “compliant with stock market financial regulations and bank regulations,” Artak believes. With Kingdom also offering crypto custody solutions, Beaxy will have an advantage in regards to liquidity.Artak added:
“We have a fundamentally more advanced engine than has ever been built, allowing us to have more speed and order types than any other exchange.